417.07 Resource Assessment Procedures (AAM)

417.07 Resource Assessment Procedures (AAM)

SR 94-04 Dated 04/94 Previous Policy

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Complete a resource assessment for the couple as of the first day of the first continuous 30-day period of institutionalization.

1. Complete Form 798, Resource Assessment Verification Notice . This notifies the individual of the required verifications.

2. Individual provides required verifications.

3. Total all countable resources of both spouses that were available on the date of institutionalization and divide the total by 2. The result is call the spousal share .

Example $5,000 equity value of second vehicle owned by community spouse (first vehicle is excluded) 2,000 equity value of life insurance policy owned by community spouse 10,000 savings account of institutionalized individual + 20,000 checking account jointly owned together $37,000 divided by 2 = $18,500 ( spousal share )

4. Complete Form 798A, Resource Assessment of Institutionalized Individuals With Community Spouses.